502 MYOB Accounting v20100419

8/3/2019 502 MYOB Accounting v20100419

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2010 COPYRIGHT: Steve Slisar owns the copyright for this publication. TAccounting v20100419

M

Purchases, i

his publication or parts of it may not be reproduced in any form physical or digital without the

Learning computers is Showezy

OB Accounting502

nvoicing, payments and receipts, finding and banking

ritten consent of the copyright owner. 502 MYOB


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502 MYOB Accounting v20100419 www.ezylearn.com.au

2010 Steve Slisar 3 Phone: 1300 888 869

Getting to know the screen (Command Centres)

Task: Identify parts of the screen:

Watch: video 5021011. Program Title bar2. Menu bar3. Command Centre Title bar4. Datafile name5. Command Centre buttons

Task: Maximise the Command Centre

For the purposes of training and making things clearer we suggest you maximise the Command Centrewindow.


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Task: Several Windows open at once

Also realise that you can have several different windows open at any one time and go to the open windows by clicking on Windows (menu bar) andthen clicking on the section you want to go to.

1. When you are at the commandcentre, click Sales then Enter Sales.

2. Click Window (menu bar) notice youcan go back to the Command Centre.Click it.

3. Click Sales Register, then clickWindow and go back to theCommand Centre.

4. Click Receive Payments then clickWindow to see that you now have 4windows open including theCommand Centre.

5. Now click on Cascade Windows andyoull see something like we have on

the left.6. Click on Sales register to bring it

forward.7. Close all windows so you are only

looking at the command centre andno other windows are available fromthe Window menu


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Moving around the Modules

Lets become familiar with how to move around the software so that when we have to do it later we know what to do. Notice in the screen shots below

that there is a big visual different between different versions of MYOB. The example on the left is Business Basics and the one on the right is MYOBAccounting Plus version 18 (has payroll and inventory).

Task: Look at the Command Centres for each section

1. Click on the large button at the top of the screen that says Accounts and notice that the options which appear below change.2. Click on Accounts list and notice that this shows us what is called the Chart of Accounts.3. Close that window and click on Purchases

You may notice that MYOB asked for alinked account. If it does, it means that youneed to provide one.

a) Click the drop down arrow at the topright and youll see a list of potentialaccounts from your chart ofaccounts list.

b) Scroll upwards until you start seeingthe Liability accounts.

c) The account we are looking for iscalled Trade Creditors and its notshowing in the list.


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d) Click on the New button towards thebottom of this screen.

e) Enter the information you see in thisscreen shot to the left.

i. Select Accounts payable thenpress TAB

ii. Type 1500 in the accountnumber field, press TABiii. Type in Trade Creditorsiv. Click OK

It should now say Trade Creditors in the

liability account for tracking payables andthe Bank Account for Paying Bills shouldsay Cheque Account

f) Click OK to accept this information


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Purchases, liabilities and Accounts PayableWhen you operate a business which supplies products you purchase these products and keep them in your warehouse until customers order them.Usually you dont need to pay for them up front because you have an account with your suppliers.

This means that when you purchase stock your bank balance doesnt go down until you actually pay for the goods. You end up with a current liabilitywhich shows that you owe the money in a given number of days depending on the terms you have organised with your supplier.

The purpose of the linked accounts in MYOB is so that all you have to do is enter a purchase and then a payment for that purchase, and the softwaretakes care of all the accounting for these transactions automatically.

When you purchase stock using an account your assets increase (inventory) and your liabilities increase (Trade Creditors).

When you pay for your purchase

your liabilities decrease (Trade Creditors) and your assets (Cheque Account) decrease


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PurchasesScenario: We called Octagon Cleaning to clean our office each week and when they have completed the cleaning they leave us with an invoice. This is

a service and not a stock item we are buying so the purchase will be quite simple.

Purchases Service Layout Video: 502602

1. Click the Purchase command centre2. Click on Enter Purchases3. Notice at the top of the screen that it

says [Purchases New service]

This is the default setting and we willlearn how to change the layout later.

4. Type Octagon Cleaning in theSupplier field and press TAB

We dont have Octagon Cleaning

setup as a Supplier yet so the screen

is blank. We are going to create a

Supplier card on the fly.

Create Card on the fly,Video:502407

5. Click the New button (bottom).


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6. Octagon cleaning appears in theName field so press TAB and theother fields open up.

7. Enter the information you can see inthis diagram.8. When finished click OK.

You have just created a Supplier

card in your card file. Well done.

You should have the Enter Purchase

window on your screen.

9. Press TAB and all fields becomeavailable.

10.Press TAB until you get to thedescription field.

11.Type office cleaning then pressTAB.

12.Press TAB again and you will beprompted to enter an Account Name.

13.Scroll down and look for an expenseaccount called cleaning. You should

notice that one does not exist.


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14.Click the New button at the bottomof the dialog box.

15.Choose Expense as the AccountType

16.Make the account number 4150(notice it will start with a 6 becauseit is an expense), press TAB

17.Type the description as in thediagram. Click OK

18.Select your new expense account forthe Account name column, pressTAB

19.Enter an amount of $160, TAB yourway to Tax and type in GST

20.When finished click Record.21.Is MYOB asking whether you want

to change the Tax code used?22.Click No and the purchase will be

recorded.


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Purchase Register

In the last exercise, we created a purchase order and recorded it. We did however have an issue with the suppliers ABN number so we want to go back

to that suppliers card and alter it. We can do this several ways and in this exercise we will get there from the Purchase register.

Task: Edit a Supplier Card

1. Make sure you are looking at thePurchase Command Centre.

2. Click Purchase Register.3. Notice that the last purchase you

entered is listed.4. Click the little white arrow (far left

of the record) to see the purchaseyou entered.

5. The purchase is on your screenagain. Notice the white arrow next toOctagon Cleaning? Click it.


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6. You are now looking at the suppliercard.

7. Click the Buying Details tab (top)and notice the A.B.N. field at theright.

8. Click in it and enter the number onthe screen.

9. Click OK10.Cancel the purchase window and

Purchase register until you see thecommand centre again.

You should not see the change tax

code message again for this

supplier.


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InventoryWe will now embark on a wholesale buying spree of telephone system components because its an exciting new market and businesses have theopportunity of saving hundreds and even thousands of dollars on their call costs per year.

Here are some important facts to be aware of:

If you operate a business that sells products then product purchases are normally classified as Cost of Goods Sold rather than an expense. You can use MYOB to keep track of the number of items you have in stock. If you choose to have MYOB keep track of your inventory you will always know the value of your inventory assets.

Inventory items

This is a list of the products we are going to keep in our inventory. You will need to refer to this information when you enter your transactions.

Linksys SPA962 (Cisco) Shows 6 incoming lines

(to answer differently ifrequired)

Allows a connection of areception console

Hands free

Head set Mute Call transfer & Hold

Sell Price$449 (inc GST)

Buy Price$264.60 (exGST)

Linksys SPA942 Ideal workstation Can show up to 4 lines Hands free Headset Mute Call transfer Hold


Buy Price$159 (ex GST)

Linksys SPA932 (connectedto the SPA962)

Reception console Faster transferring of calls See who is available


Buy Price

$129 (ex GST)

Cisco WIP310 Wifi IPPhone

PBX functionality liketransfer and hold calls

Connects to networkvia Wifi

Cordless


Buy Price

$259 (ex GST)


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Task: Create inventory items Video: 502408

1. Click on Inventory in the commandcentre, then click on Items List.

2. You should see a screen very similarto this one.

3. Notice that we dont have any itemsyet?

4. Click the New button

5. Type SPA962 into the Item Numberfield and press TAB, the other fieldsshould open up.

6. Enter the information as you see it inthis diagram.

Note: you need to ensure that youfind a Cost of Sales account for

buying the item, Income account for

selling the item and an Asset account

for keeping it in Inventory.

7. When youve completed this step,click on the Buying Details tab.


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Notice there is no information in

here? Well leave it blank for now

and take a look at the selling

information.

8. Click on the Selling Details tab.

9. Type 449 in the Base Selling Pricefield and press TAB.

10.Enter the rest of the information yousee in this screen, including GST for

tax code and tick the Prices are TaxInclusive box.

11.When finished Click OK12.There is GST when bought. Ensure

you make that change if asked.

Extra task13.Create an inventory item for each of

the other 3 products that we want tokeep in stock, see the first page ofthis Inventory section.


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Purchase Inventory items

Weve decided on a product range now we need to make a purchase so that we have phones when our customers ask for them.

One supplier of Cisco IP Telephony products is Westcon Group at St Leonards so well go ahead and place an order with this company. We areassuming we have an account for the purposes of this workbook.

Task: Create a New Supplier Card

1. Ensure you are looking at the CardFile command centre.

2. Click on Card List and a list of allcontacts will appear.

3. Note that the All Cards tab iscurrently selected but your view canbe filtered by clicking on the othertabs like Supplier, Customer,Employee etc

4. Click the New button (bottom)


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5. Enter the information as you see it inthis screenshot to the left.

6. Click on the Buying Details TAB.

7. Change the Purchase Layout to Itemso youll never have to change thiswhenever you create a Purchase forthis Supplier.

8. Enter the ABN(77 050 539 672) and then click OK

9. Close out of every window so thatyou can see the main commandcentre.


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Task: Enter a purchase for inventory items Video: 502603

1. Make sure you are looking at thePurchases command centre.

2. Click on Enter Purchases3. Notice that it says [Purchases NewService] in the title bar?

4. Click the layout button (bottom) andnotice that you have several optionsto choose from.

5. Click on Item (notice the differentlayout) and click OK

6. Enter a purchase with the followinginformation.

7. Note:a. Change it from a BILL to an

ORDERb. Change the Ship to Address to a

streetc. DONT ENTER a SUPPLIERS

INV# BECAUSE WE DONTHAVE ONE YET

d. Make sure the tick next to TaxInclusive is not ticked (top right)

8. When finished click Record.Ignore the suppliers inv# in thisdiagram


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Receiving Inventory Items

Task: Receive Items

Once youve ordered you need to wait forthe products to be delivered. Once yourproducts are delivered to you, they can beentered into MYOB.

1. Make sure you are looking at theInventory command centre.

2. Click on Receive Items3. Enter Westcon into the Supplier field

and press TAB.4. An existing Purchase Order will

appear and as this is the one that weare receiving products for select itand click on Use Purchase.

5. The purchase order we entered nowappears on the screen.

6. Look towards the bottom for thebutton which says Receive Items,click it.


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7. If this message appears, click on thedrop down arrow and selected TradeCreditors.

8.

Click OK and youll get back to thePurchase Order again.9. Click Receive Items again.

10.Enter the same values we have inthis screenshot under the heading

Receive (note we didnt get the fullorder).

11.Enter a value of $120 for freight.12.Click record13.Note that the Balance Due is

$8674.60?14.Close all windows.


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Convert Purchase Order to Bill Video: 502604

If we received an invoice from the supplier for the part shipment we received, we can open the purchase order and make a bill from it specifying theproducts that are still on backorder.

1. Locate your purchase order and clickon the Bill button (bottom next toReceive Items)

2. Enter the numbers in the Backordercolumn in the screenshot.

3. Enter the supplier invoice # of16625184. Click Record

5. If prompted to choose a freightaccount, click OK

6. Choose Freight Paid from theExpense accounts.

7. Click OK


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8. Youll notice that you originalpurchase order has now been alteredand shows only the products that are

waiting on backorder.

9. This is your new purchase ordershowing the remaining balanceowing once all products are received.

10.Now that we have a bill we canapply payments.


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Pay BillsIf an invoice came with the products that were shipped as part of our purchase order we can pay our bills. Whats important to remember is that if wecreated a Purchase Order in the Purchases command centre, when we need to use the tools in that command centre.

If you click on Purchases youll notice that Pay Bills is one of the options in that command centre. You use this section here because it reduces yourAccounts Payable and reduces your bank account at the same time.

Task: Pay Bills Video: 502601

1. Click Pay Bills2. Enter Westcon Group and press TAB3.

Notice that we only have $1099 inour account? (top of screen)

4. Keep the cheque number the same,enter 1000 in the Amount columnand then keep TABBING until youget to the Amount applied column.

5. Notice that the full amount you typedgoes into this field.

6. Press tab and then click Record.


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SalesThe sales centre is where you can create quotes, convert them into orders that you can use to send to your suppliers and ultimately create invoices thatyou can print or email to customers. Once an invoice is created payments can be applied to these invoices all within the Sales command centre.

Task: Create Customer Cards and modify terms

Lets create some customer cards and set their payment terms before we create the invoices.

1. Create a new Customer card andenter the details from the screenshoton the left.

2. Click on Selling Details

3. Change the Sale Layout to Item.4. Change the Customer Terms

information (bottom) toa. Payment is due In a Given #

of Daysb. Balance Due Days should be

7

5. Click OKThe next 3 Customer Cards we create will

all have the same Selling Details.


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6. Create a new customer card withthese details

7. Create this customer

8. Create this customer


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Create a Customer Quote

The first step in getting a new customer is to first provide a quotation for your products and services. Some small businesses create these quotes usingMicrosoft Word and when they win the business they create an invoice. We are going to use MYOB for the whole process.

Task: Create a quote for a customer Video: 502109

1. Make sure you are at the SalesCommand Centre.

2. Click Enter Sales3. Convert it to a Quote (top left)4. Use Flockana as the Customer5.

Enter the products as displayed in thescreenshot on the left.

6. Enter a product code called Misc andpress TAB.

7. We dont have a product calledMisc, but we want to quote formiscellaneous activities.

8. Click the New button and create anew Item using the details in thesescreenshots.

9. Click OK

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10.Create another Item calledConsulting so that we can use theItems list to bill for services that weprovide.

11.For this well have a day rate andcharge out at $1200 per day.

12.Now you have all the products inyour Items list to complete thequotation.

13.Complete the QUOTE with theinformation in this screenshot andclick Save Quote.

502 MYOB A ti 20100419 l


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Enter Invoices

Weve just completed some work at a customer site and need to invoice them for the products we supplied and the work we completed. Its a nicesimple job and they paid on the day.

Task: Enter a Sales Item invoice & apply a payment Video: 502501

1. Click on Enter Sales from the maincommand centre

2. Ensure you are creating anINVOICE (top left).

3. The Customer is Brandaid4.

The date is 18/3/20105. The consulting only took half a dayso make that comment in theDescription column and then in thediscount column for that item enter50% and press TAB

6. Click in the Paid Today field andtype $1587

7. Click on Payment Method andchange it to Cheque.

8. Click Details next to Paymentmethod,

9. This screen allows you to enter somedetails about the cheque youve justreceived.

10.Just type the cheque number 2276and click OK

11.Click Record and both an invoice hasbeen created and a payment appliedto it for that day.

502 MYOB Accounting v20100419 www ezylearn com au


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12.Create an invoice using the details inthe screenshot on the left. Record itwithout applying a payment.

13.Create an invoice using these details.Record it without applying a

payment.

14.Create another invoice using thedetails in this screenshot.

15.Notice the Ship to address.16.Enter a freight charge of $25 and

record the invoice.



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Accounts Receivable

Accounts receivable is the term used to describe money that is owed to you by your customers. Another term is Trade Debtors and it is classified as acurrent asset. To see how much money is owed to an organization a Debtors or Accounts Receivable or simply AR report is created. The Accounts

receivable report shows you which customers owe money and the age of their debt (how long since they received their invoice). Aging is usuallycategorized into 30, 60 and 90 days but it may be 7, 14 and 21 days.

Task: Who owes you money

1. Click on the drop down arrow nextto Analysis (bottom right).

2. Click on Receivables

3. Notice in this screenshota. The radio buttons (Summary,

Customer detail and SaleDetail) at the top

b.

The aging headingsc. The little white arrows at theleft of each customer

d. The totals (and percentages)at the bottom

4. Click the White arrow next toWorkingMums Consulting



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5. The total amount due is made up oftwo invoices

6. Notice also that Customer Detail isselected in the radio buttons at thetop.

7. Click the white arrow next to invoice# 13 and notice you are now lookingat Sale Detail.

8. The three lines are made up ofHardware sales, GST liability andfreight.

9. Click the white arrow next toSummary to view the whole list oncemore.



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Task: Accounts Receivable To Do List Video:502203

There is another way to take a look at who owes the company money and that is via the To Do list at the bottom left of the screen. This

1.

Click the To Do List drop downarrow and select A/R (AccountsReceivable) from the list.

2. You now get to see a listing of all themoney outstanding on an invoice by

invoice basis.3. Notice the Overdue Column shows

how overdue the payment is. If thisvalue is a minus is simply means thatthey are within their payment terms.The values will change depending onthe date.

4. Notice the Mail Merge button at thebottom of the screen?

5. Tick next to $3855 in the far rightcolumn and click Mail Merge

6. These are all the Microsoft Wordtemplates that come with MYOB.They are pre-designed letters that

convey a desired message and can beused to encourage a customer to pay,give them a warning, thank them orsend them a legal notice.

7. This is not in the scope of this coursebut is very handy to know.



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g y


Task: Send Statements Video: 502205

Its time to send a statement to our customers to let them know the situation with their debt to us. The goal of course is to encourage them to settlethese debts by making a payment as soon as possible. You can now email statements rather than print and mail them.

1. Click the Print/Email Statements linkfrom the Sales command centre.

2. Click on the To Be Emailed tab atthe top.

3. If you change the Statement type toActivity (rather than just invoice)only customers who have made a

payment will appear

4. Make the following changes:a. Change statement dateb. Tick all the boxes at the far

left of each customer.c. Change the Message that will

be sent to customers.

Note: your email program needs to be

setup and running and you need to have

your customers email address in thesystem to proceed.



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Quote to an Order Videos: 502111 to 502113

Scenario: Flockana Virtual Services has agreed to our quotation for supplying a hosted PBX telephone solutions using virion. For this service we use acompany called yourITsupport who perform all the tasks and supply all the equipment so we simply want to send an order through to them so that they

can get onto the job and completed it. We normally put a margin of 10% on their cost to act as the project manager.

1. Click Sales Register button (in Salescommand centre).

2. Notice the Quote for Flockana, clickthe white arrow (left side)

3. The Quote appears on the screen.Click Create PO (bottom)



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4. Type yourITsupport in the Supplierfield and press TAB

5. Notice the supplier is not currently inour Card File so for now and to makethis process faster, just click Easy-Add

6. Notice that there are no services inthis invoice? Thats because wedidnt click the I buy these whenwe set them up in the Item List.Well jump and do that now.

7. Click Window and go to theCommand Centre (leaving this

ORDER as it is so we can come backto it later).

8. Click Inventory, go to the Item List,and click the white arrow next toConsulting.

9. Tick the I Buy This Item box andchoose Wages and Salaries as theexpense category. Specify a tax codeof GST in the buying details section.



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10.Tick the I BuyThis Item box andchoose the Cost of Sales categorycalled Misc. Parts - Purchase.

11.Click on Buying Details and set thetax code to GST if its not donealready.

12.Click window and go back to yourPurchases New Item option.

13.Enter all the information we have inthe screenshot on the left. Notice thatwe have simply listed our retail pricefor each item and then applied a 10%discount.

14.We have also put our Customer inthe Ship to field.

15.Our Quote is still in the system, butwe now also have a Purchase order.



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Quote to an invoice

The work for Flockana has been completed and we want to send them an invoice for the project so well open our ORDER and convert it to an Invoice.

1. Locate the Quote.2. Click on Invoice (bottom)

3. The Invoice is created (backgroundcolour changes from orange to blue)

4. Click Record.



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Credit a Customer Video: 502402 (more at 502605)

Weve invoiced Flockana but we didnt realize that yourITsupport spent only one day at the customer premises and was able to complete all the workin that time so we need to issue them with a credit.

Task: Issue a Credit

1. Go to Sales Command Centre2. Click Enter Sale3. Use the Flockana Customer4. If asked whether you want to use an

existing Quote click Cancel.5. Create a sale for -1 x consulting and

notice the total value is -$1200.When printed out the form will havethe words Credit Note on itautomatically.

6. Click Record



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Task: Apply a credit to an invoice Video: 502607 (similar)

Now that we have given Flockana a credit of $1200 we can apply that to the outstanding invoice.

1. Go to Sales command centre2. Click Receive payments3. Use Flockana Customer card4. When you see the image in the

screenshot on the left, click ApplyCredits and the credit of $1200 willbe applied to the outstanding invoice.



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Receive Payments

Task: Receive a part payment Video: 502504

1.

Make sure you are in the Salescommand centre2. Click Receive Payments3. User Flockana4. Enter the information as shown in

the screenshot (left)5. Click Record


T k R i t f i i


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Task: Receive one payment for many invoices

WorkingMums is an organization with many virtual assistants working from from their own homes and performing office and book keeping solutionsfor their clients who may be scattered across the country. They have ordered two Virion Hosted IP PBX small business telephone solutions for theirclients and decide to pay for them all at once. They are going to pay directly into our bank account.

1. Click on Receive Payments2. Use WorkingMums Consulting3. Enter an amount of $16214. Change the Payment Method to

Transfer.5. Notice that the payment will pay off

two invoices at the same time.

6. Notice that Transfer is not in the listof available payment methods.

7. Click New8. Type transfer and make it a cheque

type transaction.

Be aware that when we are Receiving Payments this way that MYOB is saying that they are going

directly into your Cheque account. This isnt the case all the time because you may have the cheques

sitting on your desk for a couple days before you deposit them all in one go.



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Task: Get to know the Bank Deposit

Well now see how easy it is to have several windows open at once and go between them, keeping them open at all times.

1. Click on the Banking button, then click on Bank Register2. Click on Window in the menu bar and notice that you have the Command Centre and the Bank Register open. Click on Command Centre and

youll end up back at the main screen.3. In the Command Centre click on Prepare Bank Deposit button and then click on Window (in the menu bar) and notice that we have an extra

window open, click on Command Centre to go back to the main screen.4. In the command Centre click on the Sales button and then click on Analyse Receivables.5. Click on Window (menu bar) and notice the many different screens you have open in MYOB. Click on Prepare Bank Deposit.

Notice how you can have several things going at the same time without having to close them to go to a different area of the software? This can makethings confusing at first but youll see the power of this when you need to check on past transactions.

Have another go..1. You should still be in the Prepare Bank Deposit screen. Press the ESC key (top left key on the keyboard notice it is the same as clicking on

cancel)2. By clicking on Window in the menu bar, go to every other open screen and close it so that you only have the Command Centre open.



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Sales Register

The sales register shows us all the transactions that have gone through the sales module. They are normally sorted by date, contain the customer cardinformation and show you the total sales value and current amount due. If the Amt Due is zero, it means the invoice has been fully paid and the Status

as a result changes to Closed.

Task: Look at the Sales register

1. Click on the Sales command centre.2. Click on Sales register3. Make sure you are in the All Sales

tab and you have selected the date

range in the screenshot (left)4. Also note the Seach by: option where

you can see just records for aspecific customer or all customer.

5. Select All customers if not alreadyselected.



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Pay some billsYou should realise at this stage that you dont always have to use the buttons available to you on the screen. You can use the menu bar commands. Wewill use the menu bar in these exercises.


Task: Enter a Spend Money Payment Video: 502601 and 502702


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Task: Enter a Spend Money Payment Video: 502601 and 502702

You should have the Training Company file open. Click on Command Centres (menu bar), then move your mouse to Banking and click on SpendMoney.

1. The yellow Spend Money screen should appear and the date is highlighted, the date should be 3/5/2010, press Tab to go to the next field andtype 65, then press tab to go to the Card field

2. In the Card field type Sydney Water, then press tab. We havent used this card before so the Select from List dialog box appears and youhave the choice of:

a. Selecting one of the names from the list, orb. Clicking on New

3. Click on New and the name Sydney Water will appear as the Name. Click on OK and you have created a new card for Sydney Water (just likean Easy-Add)

4. Press tab four times until you get to the Memo field and notice that the text is highlighted. We are going to ad a short memo to the end of thetext, follow these steps:a. Press the end key and thenb. Type 1/4/10-31/4/10 and then press tab to get to the Account Name field

5. In the Account Name field type wat and notice that it picks up the fact that there is an account called Water (it fills in the er). Press the tab keyto get to the amount field and Notice that 65 is automatically entered.

6. Press tab three times to get to the Tax field and type gst and your payment is correct.7. Notice that it assumes the next cheque number. We paid via BPay so type bpay in the Cheque No.: field. Click the Record button and your

payment is recorded.

Enter the following payments:Card Amount Memo Account Name Tax

Landlords Australia Pty Ltd $500 July 2003 Rent GSTLocal Newspaper $85 ad on 12th June page 5 Advertising GSTAustralia Post $65 copy paper Office Supplies GST

Once you have entered these in, Click on Cancel to close out of the Spend Money screen.


The Bank Register


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The Bank Register

Lets take a look at the banking register to get an idea of how our transactions appear in MYOB.

Task: Get to know the banking register Video: 502701

1. You should be at the main Command Centre. Click on the Banking module (if you are not already in it) and then click on Bank Register.2. Make sure the dates you are for the current month (see the diagram above) you want to see transactions for.

Notice that you can use the Spend Money option from this screen (the yellow area at the bottom).


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Whats next


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What s nextYou should now feel quite comfortable to open an MYOB file and perform day to day transactions using MYOB accounting software.

MYOB Setup 501There is not always a need to setup a new company file, but the understanding of how to set one up will provide you with a more in-depth knowledgeof how the system comes together. This course will also explain how to customize the numerous forms that are used in MYOB Accounting softwarelike invoice forms (service, item and more), plain paper or pre printed invoices, remittance advices, purchase orders and more.

MYOB Bank Reconciliation 503This course introduces some new concepts like directors loan accounts, direct debits and credits, use of a credit card account and bringing them alltogether in the end of month bank reconciliation.

MYOB Reporting 504Once your system is setup, day to day entries are entered and reconciled you will want to produce some reports to understand the financial health ofyour business. This course introduces the use of the Microsoft Excel spreadsheet to make changes to the reports that are produced so that you can makebetter use of your historical accounting data. Create reports like Profit and Loss and Balance sheet reports.

MYOB Payroll 505

Payroll can be a complex issue if you dont have all the information in the right place. Companies have different staff on different awards anddepending on their skill and role within the organization, their rates of pay and salary circumstances are different and proper handling ofsuperannuation payments is important. Learn how to enter the correct information and perform weekly, fortnightly or monthly tasks and reportsrelating to your staff and their pay.

DisclaimerThe circumstances of each business are very different. Decision making on how to handle the variety of compliance duties vary from company to

company. This training workbook is meant as a guide only and does not take you or your employers circumstances into account. Use this guide as ameans to understand how to move around and enter information into the software but consult your advisers for information specific to you or youremployers organization.

Documents

502 MYOB Accounting v20100419